Use the following information to answer the question(s)below.
On June 30,2011,the Able,Baker,and Charlie partnership had the following fiscal year-end balance sheet:
The percentages shown are the residual profit and loss sharing ratios.The partners dissolved the partnership on July 1,2011,and began the liquidation process.During July the following events occurred:
* Receivables of $6,000 were collected.
* All inventory was sold for $8,000.
* All available cash was distributed on July 31,except for
$4,000 that was set aside for contingent expenses.
-The cash available for distribution to the partners on July 31,2011 is

Question

Use the following information to answer the question(s)below.
On June 30,2011,the Able,Baker,and Charlie partnership had the following fiscal year-end balance sheet:
  The percentages shown are the residual profit and loss sharing ratios.The partners dissolved the partnership on July 1,2011,and began the liquidation process.During July the following events occurred:
* Receivables of $6,000 were collected.
* All inventory was sold for $8,000.
* All available cash was distributed on July 31,except for
$4,000 that was set aside for contingent expenses.
-The cash available for distribution to the partners on July 31,2011 is

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The Answer is A

Use the Following Information to Answer the Question(s)below